The optimal resource use for a limited natural resource is
A. unrelated to the discount rate.
B. more back loaded with a higher discount rate.
C. more front loaded with a higher discount rate.
D. more likely to be u-shaped with a higher interest rate.
Answer: B
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Susan can bake 200 cookies in an hour or watch her favorite TV show. If she chooses to watch her show, her opportunity cost is
a. 200 cookies b. 100 cookies c. 150 cookies d. Need more information
In this graph for the marginal costs and benefits of pollution controls, at ______ the marginal social benefits of greater pollution control expenditures have exceeded the marginal costs associated with having the controls.
a. Q1
b. Q2
c. Q*
d. both Q1 and Q2
A monopolistically competitive firm is operating at a short-run level of output where price is $30, average total cost is $35, average variable cost is $25, marginal cost is $15, and marginal revenue is $12. In the short run this firm should:
A. decrease the level of output. B. shut down. C. make no change in the level of output. D. increase the level of output.
A Supreme Court ruling in March 1996 held that
A) state laws to prevent banks from selling insurance can be superseded by federal rulings from banking regulators that allow banks to sell insurance. B) state laws to prevent banks from selling insurance cannot be superseded by federal rulings from banking regulators that allow banks to sell insurance. C) state laws to prevent banks from selling insurance can be superseded only if Congress enacts legislation that allow banks to sell insurance. D) state laws to prevent banks from selling insurance cannot be superseded by federal legislation.